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REPORT: 2016 ACL Fest brought $277.4 million into Austin economy

REPORT: 2016 ACL Fest brought $277.4 million into Austin economy

Rock band Cage the Elephant performs at the Austin City Limits Music Festival on Oct. 1, 2016. ACL Fest had an estimated impact of $277.4 million on Austin’s economy in 2016, according to a study commissioned by ACL Fest.

The 2016 Austin City Limits Music Festival had an estimated impact of $277.4 million on Austin’s economy, according to a study released Monday.

The study was commissioned by ACL Fest and conducted by Austin-based Angelou Economics.

The event’s 2016 economic impact was up nearly $55 million over 2015, when the estimated impact was $222.9 million, according to the study. That’s a 25 percent increase.

Since 2006, ACL Fest says, it has had an estimated impact of $1.5 billion on the city’s economy.